Overview
- Multiple Hyderabad victims reported losses after being steered from sponsored Facebook ads into groups posing as market mentors and told to install a shared trading app.
- Recent complaints include a 52-year-old Nallakunta resident who transferred ₹45.01 lakh after false IPO allotment claims and a homemaker from Dundigal who routed about ₹1.09 crore through accounts shared by group admins.
- Cyberabad police also received a complaint from a former IT worker in Madinaguda who was shown fabricated dashboards and alleges losses totaling ₹1.26 crore.
- Hyderabad cybercrime officials arrested four suspects in Bihar and West Bengal for supplying mule bank accounts in a ₹2.58 crore case linked by police to a Myanmar-based syndicate, freezing ₹2.45 lakh while the prime accused remains at large.
- Police detailed tactics such as fake profits displayed as high as ₹6.19 crore, blocked withdrawals, and pressure using purported IPO allotments, and urged investors to verify SEBI registration and report to the 1930 helpline, as a separate Mumbai case alleged a ₹48 lakh loss in a fake block trading scheme using forged SEBI documents.